TechFlow News, June 24: According to Yonhap News Agency, Samsung Electronics is set to launch a massive share buyback program worth approximately 90 trillion Korean won (about $59 billion). Under an agreement reached between management and labor, special performance bonuses will be distributed to employees in the form of the company’s own shares (treasury stock). To cover the shortfall exceeding its current treasury stock holdings, Samsung must conduct this large-scale share repurchase. The specific implementation plan is expected to be announced shortly.
Markets may have reacted positively to this news: Samsung’s stock surged 9.35% during today’s morning trading session.
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